There are two kinds of people in the world, one who believes in making money and have a stable life. Then, there are certain people who believe in serving society or being in a career field that will allow them to create a positive impact on society. Choosing a career in the healthcare sector can provide you with the opportunity of creating an impact on society by improving health conditions. MBA in Healthcare Management is becoming a popular healthcare track for future leaders who aspire to enter the growing industry. An MBA is always a bright option to explore great opportunities globally. In this blog, we will discuss the major aspects involved in a master’s degree in Healthcare Management.
This Blog Includes:
|Course Name||MBA Healthcare Management|
|Basic Eligibility||A UG degree in any stream with minimum 50% marks|
|Entrance Exams||Abroad: GMAT/ GRE
India: CAT, MAT, GMAY, XAT
|Job Profiles||Hospital Administrators, Hospital CFO, Healthcare Manager, Medical Practice Manager, etc|
|Top Recruiters||Apollo Life, Wipro, Cipla, Cadila Healthcare, GR Healthcare, etc.|
|Average Salary||5- 12 Lakh per Annum|
Working in the field of health and human services allows people to gain ample clinical experience in managing healthcare services. With the increasing demand for healthcare professionals, several career opportunities have opened in hospitals, clinics, pharmaceutical companies and medical institutions, globally. An MBA Healthcare Management is designed to provide students with a full understanding of all of the intricacies of the facet of business. Individuals who are looking to build a successful career in operational and service-related aspects of healthcare sector can master the skills required to find innovative ways to address the challenges of this sector. Other major skills include practices related to patient liaison, computer sciences, human resources, etc.
Healthcare Management Topics
MBA Healthcare Management also provides students with the knowledge and skills to handle relationships between insurance companies, medical health professionals, and patients. Students learn to analyse how these relationships impact healthcare facilities. Like other MBA courses, MBA in Healthcare Management also includes internship and other hands-on experience. Stretched for a duration of 2-year, the entire course comprises of a total of 4 semesters. Let’s take a look at each of this in detail:
Students learn the basic principles of healthcare management, health services, planning of health institutions and financial and cost accounting of the institutions.
In this semester, students are provided with the knowledge and skills related to medical emergencies and problems that occur in medical organisations and hospitals. Students are required to prepare papers on human resource management, clinical pharmacy, operations and services management, medical systems and medical ethics.
This semester in MBA Health Management includes subjects like Quality Management, Medico-legal System, Hospital Information System and Medical Material Management.
The final semester includes subjects such as Marketing of Healthcare Services, Medical Tourism Financial Management, Strategic Management and Business Policies. Moreover, students are required to do project research in their chosen topic or an internship in a company primarily dealing in healthcare.
Eligibility Criteria for MBA Healthcare Management
Students who aspire to pursue a degree in MBA Healthcare Management are required to fulfil the following eligibility conditions:
- Bachelor’s degree with a minimum score of 50% from a recognised board of education.
- Medical graduates are highly preferred.
- Professional work experience in hospitals or pharmaceutical companies.
- Minimum required score in English-language proficiency tests like IELTS, TOEFL, PTE.
- Minimum required score in GMAT or GRE.
Note: These are general pre-requisite, any specific requirement can be confirmed on the official university’s website.
Top Universities Offering MBA Healthcare Management
There are several colleges and universities offering excellent MBA programs that will enhance your knowledge and will provide you with an opportunity to explore great career prospects in any part of the world. We have listed down some of the prominent institutes in the world offering an MBA Healthcare Management:
- The Columbia Business School
- UCLA Anderson School of Management
- UVA Darden School of Business
- University of Washington, Foster School of Business
- Duke University, The Fuqua School of Business
- Harvard Business School
- Cornell University, SC Johnson School of Business
- Northwestern University
- University of Texas at Austin, The McCombs School of Business
List of Indian Institutions Offering MBA in Healthcare Management
If you are looking forward to pursuing an MBA in Healthcare Management in India, listed below are the Institutions your main target-
- Chitkara University
- KJ Somaiya Institute of Management
- Manav Rachna International Institute of Research and Studies
- Acharya Bangalore B-School
- Lovely Professional University
- The Prestige Institute of Management and Research
- AIMS Institute
- M.P. Birla Institute of Management
- Universal Business School (UBS)
- Amity Global Business School
The scope of MBA in Healthcare Management offers a wide range of opportunity in pharmaceutical sectors, government agencies, insurance organisations, hospitals and consulting firms in the health sector. As a specialist in Health Management, you would be required to respond to various critical management problems faced by hospitals and medical agencies in the industry. After pursuing MBA Health Management, individuals can find career opportunities in areas of IT, marketing, human resource development, medical institutions, health insurance or pharmaceutical industry. Here are some of the popular job profiles one can explore:
- Healthcare Manager
- Hospital Administrator
- Pharmaceutical Project Manager
- Purchasing Agent/Director
- Office Administrator
- Facilities Manager
- Healthcare Billing Administrator
- Domain Specialist – Healthcare
- Healthcare HR Executive
- Healthcare Finance Executive
- Health Insurance Executive
- Marketing Executives
- Management Trainee
Once you have completed an MBA in the Healthcare sector, you can target the below mentioned organizations-
- Columbia Asia
- Bajaj Allianz
- Star Health
The actually return of a course is calculated in terms of what one can do with the acquired degree. Thus, the candidates possessing a degree of MBA in Healthcare Management, usually earn 10-17 Lakh per annum.
A career in healthcare management is a wise choice for those who desire to serve the community. The field holds vast career opportunities with a huge demand for healthcare service professionals. With the right education and experience, you can chart out a great career. Are you intrigued to know more about an MBA Health Management, you can reach out to our counsellors at Leverage Edu, who can guide in choosing the right university that is best suited for your chosen field of interest.